The shape is similar but the magnitude, volume, and position within the trend are not.
I think it is almost exactly the same position in the trend. It's only up from here.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27209. (Read 26709775 times)
June 13, 2014, 03:40:36 AM
The shape is similar but the magnitude, volume, and position within the trend are not.
I think it is almost exactly the same position in the trend. It's only up from here.
June 13, 2014, 03:35:58 AM
So this was the silk road event october 2013:
And this the current event unfolding:
Striking similarities.
Who is painting these charts? Is it really "us"?
And this the current event unfolding:
Striking similarities.
Who is painting these charts? Is it really "us"?
The shape is similar but the magnitude, volume, and position within the trend are not. The silk road crash was an unnatural even that occured as a bullish penant was in progress of breaking out to the upside. Today's dip happened as a natural overdue market correction was occuring and we are not in a well established bull trend.
June 13, 2014, 03:35:51 AM
You're all spreading FUD.
Now you're gonna say that Bitstamp is gonna die like MtGox
Now you're gonna say that Bitstamp is gonna die like MtGox
June 13, 2014, 03:17:30 AM
LMAO
The bitcoin info network was just 'digesting' the snack the Fed's offered in seized coin
(heh not sure how to tell but i'd bet China took more then 1 piece of the pizza (damn it!)
Searing
June 13, 2014, 03:01:03 AM
June 13, 2014, 02:54:47 AM
The trend for the past 9 hours is quite unusual. Usually, we see either of 3 scenarios: (1) Sharp spike (represented by long green candles) (2) Sharp drop (represented by long red candles) or (3) Sideways (Represented by short candles). For the past few hours, we saw short green candles. It is as though someone (or some bots) are snapping up BTC gradually and systematically.
June 13, 2014, 02:50:32 AM
June 13, 2014, 02:44:57 AM
Quiet Please ....600 passing ...choo choo
June 13, 2014, 02:44:14 AM
Regarding silk road coins, if you had around $1.809.000 and bough BTC for it, would you sell them straight away? I don't think so. Anyone buying those coins will be longterm holders.
I have this notion (please correct me) that government auctions of other kinds of property, such as cars and houses, generally are closed well below the respective market prices.It seems that the people who bid at government auctions usually include "professionals" who buy only to resell. Those people place bids significantly below market price; if there are no higher bidders, they have made their day; otherwise they just retrieve their deposit and move on to the next auction. People who are not "professionals" tend to be scared away by the bureaucratic requirements and the large deposit.
Since there will be some delay between sending the payment and receiving the coins, the bidders will also have to factor into their bids the likelihood of the market price falling in that interval and then taking months to recover.
In summary, it is by no means assured that the auction will close above market. I rather expect the opposite.
June 13, 2014, 02:38:22 AM
I thought that the problem with the 51% is the allowing transaction confirmations rather than whether your pool receives a block award... but it has to do with being able to transact with money that you do NOT have to then steal and then to undermine confidence in the network b/c you control the approvals of the transactions.
The problem with an entity having more than 50% of the hashing power is that it basically can decide the winning chain.
Below 50% it can't go off and do its own thing as it needs others to contribute. With more than 50% it will always eventually make a chain that is longer than a competing one
June 13, 2014, 02:27:01 AM
https://twitter.com/jeff_smith01/status/476652314221367297
This is nice. Let's hope they do something fast
This is nice. Let's hope they do something fast
June 13, 2014, 02:26:13 AM
I'm happy to hear that the US government has decided to sell 0.1% of all coins which will ever be mined for a couple of million of their own currency. Way less than they keep creating in one day, actually.
Now Uncle Sam, please hurry up with the DPR trial (free him btw!) and sell off the rest of your coins
EDIT: actually looking at the terms of the auction...these coins might just be going from bad to worse hands
Oh, well...it's just 30K BTC
Now Uncle Sam, please hurry up with the DPR trial (free him btw!) and sell off the rest of your coins
EDIT: actually looking at the terms of the auction...these coins might just be going from bad to worse hands
Oh, well...it's just 30K BTC
June 13, 2014, 02:19:47 AM
Woke up to find my $550 order got filled on Stamp. Looks like I somehow got lucky as the bottom of the candle seems to be around $560.
Any thoughts on volume? Was that our bottom?
Any thoughts on volume? Was that our bottom?
500.00 was the bottom I saw. That was the second drop, the first one bottomed at 500.3 or something. Consider yourself lucky, my order didn't get filled
Regarding silk road coins, if you had around $1.809.000 and bough BTC for it, would you sell them straight away? I don't think so. Anyone buying those coins will be longterm holders.
June 13, 2014, 02:18:46 AM
Woke up to find my $550 order got filled on Stamp. Looks like I somehow got lucky as the bottom of the candle seems to be around $560.
Any thoughts on volume? Was that our bottom?
Any thoughts on volume? Was that our bottom?
500.00 was the bottom I saw. That was the second drop, the first one bottomed at 500.3 or something. Consider yourself lucky, my order didn't get filled
Lolz
Bottom at stamp: 550.61
June 13, 2014, 02:13:37 AM
Woke up to find my $550 order got filled on Stamp. Looks like I somehow got lucky as the bottom of the candle seems to be around $560.
Any thoughts on volume? Was that our bottom?
Any thoughts on volume? Was that our bottom?
550.0 was the bottom I saw. That was the second drop, the first one bottomed at 550.6 or something. Consider yourself lucky, my order didn't get filled
edit: fat fingers! 550, not 500...
June 13, 2014, 02:11:51 AM
Are you gonna sell your coins?
No. No way. Let's just hope Ghash.IO stops doing this and possibly returns to 49%.
Guys, 50% is not a magical number. A pool at 49% is almost as dangerous as a pool at 51%.
The probability of a pool solving another 5 blocks in a row after solving the first one is 2.8% at 49% of total hashrate and 3.45% at 51% of total hashrate. Sure there is a difference, but you can't say a pool at 49% isn't something to worry about.
Still it gives a fake sense of safety... I realize we're fucked if GHash.io doesn't do something about this.
I thought that the problem with the 51% is the allowing transaction confirmations rather than whether your pool receives a block award... but it has to do with being able to transact with money that you do NOT have to then steal and then to undermine confidence in the network b/c you control the approvals of the transactions.
June 13, 2014, 02:07:30 AM
Woke up to find my $550 order got filled on Stamp. Looks like I somehow got lucky as the bottom of the candle seems to be around $560.
Any thoughts on volume? Was that our bottom?
Fonzie et al need not reply; I already know what you're going to say.
Any thoughts on volume? Was that our bottom?
Fonzie et al need not reply; I already know what you're going to say.
Even the bitcoin wisdom 30 minute candles show that the price on Stamp got down to $550 for three candles in a row. I was watching the price fluctuations as the candles were forming, and I surely saw a lot of orders filled at $550.
June 13, 2014, 02:04:11 AM
Are you gonna sell your coins?
No. No way. Let's just hope Ghash.IO stops doing this and possibly returns to 49%.
Guys, 50% is not a magical number. A pool at 49% is almost as dangerous as a pool at 51%.
The probability of a pool solving another 5 blocks in a row after solving the first one is 2.8% at 49% of total hashrate and 3.45% at 51% of total hashrate. Sure there is a difference, but you can't say a pool at 49% isn't something to worry about.
Its a psychological number, the main strength of bitcoin is to be a decentralized system, is now more and more concentrated by a single entity. It shall make headlines!
June 13, 2014, 02:03:52 AM
Are you gonna sell your coins?
No. No way. Let's just hope Ghash.IO stops doing this and possibly returns to 49%.
Guys, 50% is not a magical number. A pool at 49% is almost as dangerous as a pool at 51%.
The probability of a pool solving another 5 blocks in a row after solving the first one is 2.8% at 49% of total hashrate and 3.45% at 51% of total hashrate. Sure there is a difference, but you can't say a pool at 49% isn't something to worry about.
Could some miners change their pool?? Like immediately. What's so special about Ghash.IO that they get so many miners connected???
June 13, 2014, 02:01:26 AM
Are you gonna sell your coins?
No. No way. Let's just hope Ghash.IO stops doing this and possibly returns to 49%.
Guys, 50% is not a magical number. A pool at 49% is almost as dangerous as a pool at 51%.
The probability of a pool solving another 5 blocks in a row after solving the first one is 2.8% at 49% of total hashrate and 3.45% at 51% of total hashrate. Sure there is a difference, but you can't say a pool at 49% isn't something to worry about.
Still it gives a fake sense of safety... I realize we're fucked if GHash.io doesn't do something about this.
Jump to: